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A vowel away from disaster

Economics Commissioner Yves-Thibault de Silguy turned up in Dublin for last weekend’s informal meeting of EU finance ministers with his Freudian slip showing.

European Voice

9/25/96, 5:00 PM CET

Updated 4/12/14, 1:34 AM CET

The day before the Ecofin meeting got under way, De Silguy made a speech in English to economists and lawyers in the Irish capital and declared dramatically: “Monetary union will be a millstone for the European Union.”Let’s just try that one more time, Commissioner, shall we, with a little more concentration on the accent?

De Silguy started again: “Ahem. Monetary union will be a MILEstone for the European Union.” Phew, that’s better.

What a difference a vowel sound can make – financial crises have been sparked by less.